C3Ai (AI): an expert in enterprise artificial intelligence who has partnered with a rapidly expanding customer base.
Splunk (SPLK): the shift to a recurring revenue model is starting to pay off.
UiPath (PATH): although the epidemic has subsided, the user retention rate and revenue growth rate are still high.
NVIDIA Corp (NVDA): with unparalleled software and hardware, it is at the core of the artificial intelligence revolution.
Upstart (UPST): a huge potential market that will continue to expand as the platform continues to expand in other vertical areas.
WiMi Hologram Cloud Inc (WIMI): AI Vision has a wide range of industry applications, through the "5G + cloud + AI" technology integration to build an industry meta-universe ecosystem.
Ideanomics (IDEX): high-risk and high-return AI and electric vehicle stocks provide attractive solutions for electric vehicle operators.
Artificial intelligence has always been one of the main trends of growth stocks in the technology industry. Some of the most mature technology companies in the world, as well as some start-ups, are looking to take advantage of this trend. Although the technology is still in its early stages, it proves its value in accomplishing complex tasks in less time than humans.
This relatively emerging market is expected to grow by as much as 20.1% from 2022 to 2029, according to Fortune Business Watch (Fortune Business Insights). On the contrary, some artificial intelligence stocks are trading at multi-year lows and gradually lose their halo.
However, "buy down" has long proved to be a good strategy, and the pullback of artificial intelligence stocks creates an attractive long-term investment opportunity for investors who can cope with short-term fluctuations. the following seven AI stocks have come to the fore in their respective fields.
C3Ai (AI)
C3Ai (NYSE:AI) is a leader in providing enterprise AI software. It provides its growing customer base with customizable software applications to effectively leverage the power of its cutting-edge technology.
Most of the company's sales come from the fossil fuel industry, which provides them with a range of applications to help reduce carbon emissions and predict equipment failures. It has partnerships with some of the largest oil and gas companies, including Shell, Baker Hughes and so on.
In addition, it works with some of the largest cloud service providers to make its tools available in all industries, as demonstrated by its growing customer base, which has grown at double-digit rates over the past few quarters.
Finally, since the company's gross profit margin is more than 70%, it has the flexibility to improve profit results without having to make too many cost compromises.
Splunk (SPLK)
Splunk (NASDAQ:SPLK) has become a major player in the field of big data, experiencing rapid growth driven by digital transformation and network security threats.
Almost all Fortune 100 companies are using their apparently sticky platforms to manage their technology infrastructure. In addition, the fundamental growth of the stock is also impressive, with double-digit growth over the past five years.
In the past few years, Splunk has sought to shift from internal deployment to circular artificial intelligence and cloud-based contracts. Such a model could lead to a big increase in the company's profit margins and help turn losses into profits quickly.
At the end of the last fiscal year, sales of its cloud business exceeded those of its licensing business. As a result, Splunk has paid off in its efforts to become a giant in its niche market.
UiPath (PATH)
UiPath (NYSE:PATH) has the first-mover advantage in robot process automation. It provides tested and convincing solutions to help enterprises greatly improve the efficiency of software development.
Investors were impressed by its disruptive technology and growth rate, especially during the epidemic. Although the company's recent results show a slowdown in revenue growth, its long-term outlook remains unaffected.
The company reported a 32 per cent increase in revenue to $245.1 million in the first quarter, $19.7 million higher than analysts had expected. In addition, given the current headwinds in the market, the company's net retention rate of 138% based on the dollar is very encouraging.
Although higher equity compensation depresses the company's profitability. But the data show that the market for robotic process automation based on artificial intelligence is expected to grow by 38.2% between 2022 and 2030, so the current stock price is very cheap, making it one of the best artificial intelligence stocks.
NVIDIA Corp (NVDA)
Technology magnate NVIDIA Corp (NASDAQ:NVDA) is at the heart of the artificial intelligence revolution. The company's chips account for more than 70 per cent of the booming AI market and support a range of technological developments, including medical imaging, cars, games and metaspheres.
It works with the best-known companies in the tech world, such as Amazon.Com Inc (Amazon) and Alphabet, which use its products effectively.
In the coming decade, augmented reality, automation and virtual reality will become ubiquitous, and NVIDIA Corp may be the main beneficiary. While the hardware business has achieved great success, the company is also rapidly developing its software products.
Its software products, including Omniverse and GeForce Now, are also using artificial intelligence technology to provide a better experience for its growing user base. As a result, NVDA is moving towards unlocking an incredible $1 trillion market opportunity.
Upstart (NASDAQ:UPST)
Upstart (NASDAQ:UPST), a company specializing in AI algorithm, has developed an efficient algorithm-based loan write-off model to evaluate the credit value of borrowers.
The goal of Upstart is to continue to refine its data points and improve results to be more competitive than current scoring methods such as FICO. In addition, Upstart has expanded its business into multiple growth areas to expand its total market value. But in terms of personal and car loans alone, it seems close to a trillion-dollar market opportunity.
In the first quarter of this year, sales rose 156 per cent year-on-year to $310 million. Net profit also increased by 224%. The company is adding new partners in different market segments at a strong rate every quarter, such as its banking and credit union partners from 18 in 2020 to 57 at the end of the first quarter of this year. As a result, Upstart provides a lot of room for growth for investors who are willing to take risks.
WiMi Hologram Cloud Inc (WIMI)
WiMi Hologram Cloud Inc (NASDAQ:WIMI) has the world's leading 3D computer vision technology and SAAS platform technology. WiMi Hologram Cloud Inc Yun turns ordinary images into holographic 3D content through AI algorithm, which is widely used in holographic advertising, holographic entertainment, holographic education, holographic communication and other fields.
In addition, through the technology convergence of "5G + Cloud + AI" and relying on the differentiated advantages of full-stack and full-scene AI, AR solutions, cost-effective diversified cloud service architecture, 5G collaborative ecology and global localization services and support, the company has advanced to a series of application scenarios such as smart home, commercial building, smart retail, self-driving, data center and so on.
Computing algorithm is one of the core infrastructure of meta-cosmos. The company's AI algorithm has the characteristics of high performance, low power consumption and low delay, which can be directly embedded into terminal devices to give full play to its best computing power, ultimately improve the efficiency of the overall platform, and help the industry significantly reduce the threshold for the use and optimization of heterogeneous computing. Therefore, the trillion-dollar market opportunity in metacosmos gives WIMI huge room for growth.
Ideanomics (IDEX)
Ideanomics (NASDAQ:IDEX) is a risky artificial intelligence and electric vehicle stock at present. Its business has changed many times over the years, but it has now defined its role as an overall electric car service provider. Its sales come from its electric vehicle ecosystem, including financing, leasing, charging and energy services.
As electric car makers grow exponentially, Ideanomics is taking some orders from its partners, which bodes well for the company's long-term growth. It operates a number of departments and companies and provides specialized electric vehicle services.
For example, its subsidiary WAVE, which provides wireless charging solutions for large electric vehicles, has received multiple orders from both public and private entities, and considering that WAVE is only one of Ideanomics's subsidiaries that has recently received a large number of orders, holding IDEX shares requires patience in order to enjoy its rising potential in the future.